Quote from: jomz312 on February 01, 2018, 03:05:36 PM

Bitcoin Price Dives Below $9,700

January proved to be one of Bitcoins worse months in recent memory, as a variety of factors converged to erase the tail end of the assets remarkable 2017 rally.

But now all altcoins are crackdown..

Unfortunately, the flagship cryptocurrency does not appear to have shaken off those woes upon entering February, and growing regulatory concerns have reduced the Bitcoin price to a present value of $9,643. This translates into a $161.5 billion market cap and represents a single-day decline of six percent.

It kind of sounds like you are quoting something else that somebody wrote but didn't give them credit.

Ok, here we go.
First off, your first sentence is just flat out wrong. "Bitcoin's worse months in recent memory"? How on earth is this bitcoin's worse months in recent memory? I guess if you specifically only compare it to December, than it seems bad but just three four months ago bitcoin was valued at 5k.

Second, if you think concerns over regulation and "bad news" is what drove the price down you have no idea how market economics works.
For everyday people, it a simple supply and demand issue. A lot of money was pumped into crypto in december and now people aren't buying as much. That itself is a huge explanation of btc's value.

On the whale side, there were some market manipulations with btc future trading along with large scale price fluctuations with projects with large amount of centralized investors.

Oh, and by the way, this price correction is exciting and healthy. The last thing I want is for btc to have a non stop meteoric rise. It's already volatile enough as it is and price corrections help the entire market to stabalize.